the income on payroll taxes stops at $110,000. >> it's a flat tax. >> it's actually a regressive tax. if you earn $500,000, you're not paying any payroll tax. it's ridiculous. >> assessing something you can't hardly assess, but this is when they all come back after the election, what in the hell is going to happen? how do you read it right now? what are the leaders saying? >> it all comes down to the presidential election, every party is waiting to see what happens and no one really knows, it's going to take real leadership. if anything's going to get done, it's going to be mitch mcconnell. >> this president's going to go over the fiscal cliff. >> what's going on? big tax cuts? big tax -- >> coming up next, my pal steve meister. are you expecting just as an ordinary person who writes the occasional column and follows the politics, do you think we're going have a big smacking huge tax hike after the election, do you think the so-called tax cliff we're all going to fall into it? >> we're at this fiscal cliff, obama is going to engage in this class warfare his entire four years and he ha